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Meaning of option

op•tion

an item of equipment or a feature that may be chosen as an addition to or replacement for standard equipment and features: a car with a long list of extra-cost options; a telephoto lens option for a camera.

See

a privilege acquired, as by the payment of a premium or consideration, of demanding, within a specified time, the carrying out of a transaction upon stipulated terms; the right, as granted in a contract or by an initial payment, of acquiring something in the future: We bought one lot and took a 90-day option on an adjoining one.

a play in which a back has a choice of either passing or running with the ball.

—v.t.

to acquire or grant an option on: The studio has optioned his latest novel for film adaptation.

to provide with optional equipment: The car can be fully optioned at additional cost.